Investment management company Vulcan Value Partners recently released its third-quarter 2022 investor letter. A copy of the same can be downloaded here. The firm has five strategies, trailing their benchmark indexes in the third quarter of 2022. The fund’s Large-Cap Composite returned -7.3% net of fees and expenses, the Small Cap Composite returned -14.4% net, Focus Composite returned -8.0% net, the Focus Plus composite returned -7.9%, and All Cap Composite returned -11.5% net during the quarter. You can check the top 5 holdings of the fund to know its best picks in 2022.
Vulcan Value Partners highlighted stocks like NVIDIA Corporation (NASDAQ:NVDA) in the Q3 2022 investor letter. Headquartered in Santa Clara, California, NVIDIA Corporation (NASDAQ:NVDA) is a global graphics, and compute and networking solutions provider. On November 3, 2022, NVIDIA Corporation (NASDAQ:NVDA) stock closed at $134.21 per share. One-month return of NVIDIA Corporation (NASDAQ:NVDA) was 11.22% and its shares lost 54.96% of their value over the last 52 weeks. NVIDIA Corporation (NASDAQ:NVDA) has a market capitalization of $334.451 billion.
Vulcan Value Partners made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2022 investor letter:
“We also sold NVIDIA Corporation (NASDAQ:NVDA) during the quarter to allocate capital to new purchases and to add to existing positions in the portfolio. NVIDIA is facing multiple headwinds. Data center revenue growth is slowing, gaming revenue growth is declining, and the United States has issued new export controls to China that impact NVDIA’s products. We believe NVDIA’s competitive advantages are intact, and it remains on our MVP list. In the right circumstances we would be delighted to own it in the future.”
Photo by Javier Esteban on Unsplash
NVIDIA Corporation (NASDAQ:NVDA) is in 28th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 84 hedge fund portfolios held NVIDIA Corporation (NASDAQ:NVDA) at the end of the second quarter which was 102 in the previous quarter.
We discussed NVIDIA Corporation (NASDAQ:NVDA) in another article and shared the stock picks of elite hedge funds for a growth stock portfolio. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.